Vietnam and Thailand have agreed to implement measures to boost economic co-operation with the aim of reaching US$20 billion in two-way trade turnover by 2020 at the meeting of their Joint Committee on Bilateral Cooperation in Thailand which wrapped up yesterday. The two-day meeting was co-chaired by Vietnamese Deputy Prime Minister and Foreign Minister Phạm Bình Minh and Thai Foreign Minister Don Pramudwinai. Vietnamese Deputy Prime Minister and Foreign Minister Phạm Bình Minh and Thai Foreign Minister Don Pramudwinai chair a two-day meeting in Thailand which wrapped up yesterday. — Photo vov.vn The two sides agreed to create favourable conditions for businesses of the two countries to increase investment and business cooperation as well as to facilitate agricultural import and export activities between the two countries. They also agreed to promote cooperation and share experience in rice research, production and export. They stressed the … [Read more...] about Vietnam, Thailand head toward $20 billion in trade
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VN, Thailand head toward $20 billion in trade
Vietnamese Deputy Prime Minister and Foreign Minister Phạm Bình Minh and Thai Foreign Minister Don Pramudwinai chair a two-day meeting in Thailand which wrapped up yesterday. — Photo vov.vn BANGKOK — Việt Nam and Thailand have agreed to implement measures to boost economic co-operation with the aim of reaching US$20 billion in two-way trade turnover by 2020 at the meeting of their Joint Committee on Bilateral Cooperation in Thailand which wrapped up yesterday. The two-day meeting was co-chaired by Vietnamese Deputy Prime Minister and Foreign Minister Phạm Bình Minh and Thai Foreign Minister Don Pramudwinai. The two sides agreed to create favourable conditions for businesses of the two countries to increase investment and business cooperation as well as to facilitate agricultural import and export activities between the two countries. They also agreed to promote cooperation and share experience in rice research, production and export. They … [Read more...] about VN, Thailand head toward $20 billion in trade
Vietnam mulls response to changes in US trade strategy
Seafood was among the key Vietnamese exports to the US in the first seven months of 2018 The changes in US national security strategy are focusing on intellectual property protection, dealing with trade deficit and fair trade. According to Nguyen Thang Vuong from the European and American Markets Department of the Ministry of Industry and Trade, the US will increase taxes on various kinds of goods and use non-traditional measures to intensify trade protection. Under its new trade policies, the US will also reduce foreign direct investment (FDI) in Vietnam and elsewhere. Other countries exporting to the US will devalue their domestic currencies to encourage exports, creating pressure on Vietnamese goods. Vietnam is one of the top six countries posting trade surpluses with the US. Data compiled by the US International Trade Commission for 2017 show a trade deficit of US$38.3 billion with Vietnam. The administration has explored the reasons behind the trade surplus recorded by 16 … [Read more...] about Vietnam mulls response to changes in US trade strategy
Vietnam, Thailand target US$20 billion in trade
Important trading partner General Department of Vietnam Customs data show that Thailand currently is Vietnam’s largest trading partner in ASEAN. Bilateral trade grew from US$11.5 billion in 2015 to US$15.3 billion in 2017, at an average annual rate of about 15.5 percent. In the first six months of 2018, bilateral trade reached US$8 billion, 14.7 percent higher compared with the first half of 2017. Statistics from the Thai side show Vietnam is currently Thailand’s second largest trading partner in ASEAN, after Malaysia. At the meeting, Minister Tran Tuan Anh affirmed Thailand’s importance to Vietnam in terms of both trade and investment, saying cooperation mechanisms between the two countries have proven effective. According to Minister Sontirat Sontijirawong, Thailand and Vietnam established diplomatic ties 42 years ago and the two countries upgraded bilateral relations to a strategic partnership in 2013. Both sides have maintained tight coordination to promote … [Read more...] about Vietnam, Thailand target US$20 billion in trade
European stock markets wary before Trump Juncker trade talks
European stocks moved lower on Wednesday (Jul 25) before top-level talks between the United States and the European Union on resolving a simmering trade dispute that has left investors on edge. European stock markets wary before Trump-Juncker trade talks, Photo: STAN HONDA, AFP/Getty Images The dollar rose against the euro, while bitcoin briefly broke through $8,300 before slipping back. Oil prices rose following a government report showing a decline in US crude inventories. European Commission President Jean-Claude Juncker was to meet US President Donald Trump later on Wednesday in Washington in an attempt to avert an escalation of tariffs. "An apprehensive day for financial markets has seen significant selling throughout European stocks ahead of a key US-EU meeting," said IG market analyst Joshua Mahony. "With Trump and Juncker set for trade discussions in Washington later, the pessimistic stance seen within markets is certainly warranted given the acrimonious tone taken in … [Read more...] about European stock markets wary before Trump Juncker trade talks